Samsung Electronics to cancel W14.5tr worth of treasury stocks

Samsung Electronics Co. plans to cancel 14.5 trillion won ($9.5 billion) worth of its treasury stocks as part of a buyback program aimed at enhancing shareholder value, the company said Tuesday. Around 73.3 million common stocks and 13.6 million preferred shares will be retired Thursday, it said in a regulatory filing. The move follows board decisions made in February and July last year to repurchase its own shares, the company said. The cancellation will reduce the number of outstanding shares

By The Korea Herald